for Production Freeze
Rhetoric aside, OPEC exports to the U.S. are up 20 percent year over year. U.S. production has fallen by more than 1 million barrels per day over the past 18 months, creating a supply gap that has been filled with OPEC oil.
OPEC has learned in recent months that it doesn't even have to cut production to boost oil prices.
Bloomberg has just released an expansive interview following a five hour conversation with Saudi Arabia’s Deputy Crown Prince, Mohammed bin Salman, regarding the country’s strategy over the coming years. Here are the key takeaways.
Among other changes to its economy, Saudi Arabia is likely to privatize some of Saudi Aramco's downstream assets within a year, according to Jean-Francois Seznec.